However, the eye-watering number is not as high as originally forecast last year, with a $23.3 billion deficit initially predicted in November. 1: Budget Strategy and Outlook, Budget Paper No. Which brings me to the new mental health and wellbeing levy, an additional payroll tax that kicks in at an annual payroll of $10M. Deaf, hearing or speech impaired? $8.4 million to ensure water markets are working effectively for irrigation communities and provide extension services to capture the benefits of the Goulburn Murray Water Efficiency Project. The budget aims to chart a road to post-COVID economic recovery, including by raising state revenue. The ESC will also report on the outcomes of these trials and make recommendations to the government on ways to further reduce red tape for the energy sector. $3.05 million to fund the review of the 1975 Wildlife Act to better protect our wildlife and align withtheprinciples and features ofcontemporarylegislation such as transparency and accountability. The 2021-22 Victorian state budget recognises this, and makes important new investments in mental health, as well as education and family violence prevention. The 2021-22 Victorian Budget has been delivered with key takeaways highlighting a reliance on new taxes and an increase to existing ones. 3 and No. If these changes impact your business and you would like to discuss your payroll tax situation, please contact me for an initial discussion. Unique Homes. Category Phone: 03 8624 5704 The policy will be adjusted, with a reduction in the guaranteed annual base increase from 2 to 1.5%. Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an additional tax based on payrolls for others. In its State Budget handed down on 20 May 2021, the Victorian Government announced the following initiatives that are favourable for taxpayers: Increase in the tax-free threshold for payroll tax from $650,000 to $700,000 brought forward to 1 July 2021 The Victorian Budget 21/22 contains $19B in output initiatives and $7.1B in assets. However, there are very real and obvious savings that could be generated through consolidating and transforming public sector operations. Here's what's in it for you. The PBS provides information, explanation and justification to enable Parliament to understand the purpose of each outcome proposed in the Bills. From 1 July 2021, the payroll tax-free threshold is increased from the current level of $650,000 to $700,000. The VSA will provide a new focus for state-wide and local problem-solving to support skills supply, strengthen the quality of teaching and training, and drive collaborative innovation across the vocational educational and training sector. You should only rely on the exact detail of the changes once the legislation is passed. $76.43 million to ensure the EPA continues to provide vital regulatory functions and effectively implements Victorias new environment protection framework. TheVSA will be an anchor organisation, bringing together industry, providers and other stakeholders to produce insights on priority training areas, and inform an annual Victorian Skills Plan to better guide training delivery where its needed most. 1, Victorias Economic Bulletin, Volume 6, No. Funding is provided to support the operation of Ethical Clothing Australia and the accreditation process for the Ethical Supplier Register. A shift which may have implications for medical practices in regard to payroll tax obligations. The Victorian Budget 2021-22 includes announcements related to the State Revenue Office. 1:01pm May 20, 2021 Victoria has recorded a monster deficit of $17.4 billion in the 2020-21 financial year and is forecast to remain in a shortfall until at least 2025, according to the State Budget. In addition, heavy vehicles that are entering a local traffic area must obtain an access permit. $110.4 million to build on the record $1.6 billion Clean Energy Package in the 2020-21 Budget while enhancing our energy security and lowering powerline-related bushfire risk. 20/05/21. Improving our states planning system and speeding up the delivery of housing and infrastructure projects in our growing communities. This reduced compliance was previously available only to businesses with a payroll tax liability of $40,000 or less. However, this budget also sees the government creating more authorities: the Victorian Academy of Teaching and Leadership, the Victorian Skills Authority and an authority to support gig-economy workers ($148.2M, $85.9M and $5.3M respectively). The earliest departure is at 05:47 in the morning, and the last departure from Victoria Point is at 07:17 which arrives into Loganlea (Station) at 09:21. If you are a provider of uniforms or workwear you are encouraged to visit Ethical supplier register | Buying for Victoria for further information. Its our Pandemic Repair Plan for more staff, better hospitals and first-class care. The Victorian Budget 21/22 contains $19B in output initiatives and $7.1B in assets. 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Photograph: Joel Carrett/AAP Tue 3 May 2022 13.30 EDT Last modified on Wed 4 May 2022. The Department of Treasury and Finance acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. 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The budget provides projections of government revenue and expenditure for the following year, and outlines services to be delivered. Tobin Partners Pty Ltd, Lawyers and Notaries, with offices in Brisbane, Sydney and Melbourne is one of the few legal firms in Australia, who are specialising in payroll tax. As with the previous Victorian Budget, the key feature of the 2021-22 Budget is on recovery from the economic impact of COVID-19. broader aspirations in the 21st century and beyond. It provides an overview of the investments that departments and government-controlled entities will deliver in the coming financial year. $21 million to boost the Victorian Planning Authoritys capacity to continue delivering the Streamlining for Growth initiative and complete precinct plans for some of the states fastest growing suburbs and regional cities. To come into effect on 1 January 2022, this levy will apply to the Victorian wages which are paid by businesses with an Australian wages bill in excess of $10m. 2021-22 Victorian State Budget 25 May 2021 In brief The 2021-22 Victorian State Budget was delivered on 20 May 2021 by Treasurer Tim Pallas. 2) 20212022, Appropriation (Parliamentary Departments) Bill (No. $5 million to plant trees in Melbournes west to reduce the risk of heat stress, create access to green spaces and improve overall air quality. Featured videos. $6.56 million to continue the implementation of Plan Melbourne, the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050. Assets expenditure is focussed on maintaining existing assets or creating new assets. Overall, it feels like the Victorian Budget 21/22 has fallen a little short of the mark from a business and industry perspective. Funding is also allocated to continue St Kilda Road tram services during construction of the Melbourne Metro Tunnel. Output initiatives are those that involve operational expenditure and can include consultancies and contracts, as well internal costs. Finally, $180M over four years has been budgeted to commence development of the former General Motors Holden site at Fishermans Bend into a centre of innovation in advanced manufacturing, engineering and design. Agencies receive resources from the annual appropriations acts, special appropriations (including standing appropriations and special accounts), and revenue from other sources. Download Budget Paper 3: Service DeliveryExternal Link (PDF, 3.2 MB), Download Budget Paper 3: Service DeliveryExternal Link (DOC, 1.1 MB). Click to DOWNLOAD Victoria State Budget 2021-2022 Summary You must have JavaScript enabled to use this form. Address: 30-38 Little Malop St, Geelong 3220, Address: 71 Hotham Street, Traralgon 3844, Open: 9am - 12pm and 1pm - 3pm Monday to Thursday, Closed: Friday, Message from the Secretary and staff networks, Listening and acting on community and stakeholder feedback, Victorian Science and Planning Graduate Program, Australian Standard for Fraud Corruption Control, North EastCatchment Management Authority, EastGippsland Catchment Management Authority. Download Budget Paper 1: Treasurer's SpeechExternal Link (PDF, 493 KB), Download Budget Paper 1: Treasurer's SpeechExternal Link (DOC, 97 KB). east Strata parking rules If you own a car, check whether your lot includes a parking space and how you are allowed to use that space. Open: 9am to 4.30pm, Monday to Friday, Address: 71 Hotham Street, Traralgon 3844 The Victorian Government released its 2021-22 budget on 20 May 2021. The Victorian Budget 2020-21 includes a number of announcements related to legislation administered by the State Revenue Office.. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. 2021-22 Budget Update Each year, the Victorian Government produces a mid-cycle review of the annual State Budget. $41.65 million has been provided for a range of initiatives to assist communities impacted by the 2019-20 Victorian bushfires. The Victorian Government delivered the 2021-22 State Budget on Thursday 20 May 2021. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. * Figures in Appendix B: Historical Australian Government Data (Table B.2, B.9 and B.10) have been corrected and differ from those published in the printed version, Appropriation (Coronavirus Response) Bill (No. 1, Victorias Economic Bulletin, Volume 6, No. Published Jun 9, 2021 + Follow Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an. Compensation payments for Victorians living along the path of the future Outer Metropolitan Ring Road blew out by nearly $100m in a single year, with the state urged by bureaucrats to find new . $14.08 million for the EPA to clean up high risk waste sites. 3, Victorias Economic Bulletin, Volume 6, No. From 1 January 2022, land tax rates for larger property holdings will increase by: 0.25 percentage points for taxable landholdings exceeding $1.8m; and 0.3 percentage points for taxable landholdings exceeding $3m. $986 million of this investment will be funding the design, construction and maintenance of 25 brand new X'Trapolis 2.0 trains and an upgrade to the Craigieburn Train Maintenance Facility. Victoria's population growth is expected to grow slightly in 2021-22, rising further by 1.2 per cent in 2022-23, as Announced in the Budget is. 2. $4.7M is provided to construct and operate a, $500M over four years to expand and improve, $72.4M for Bendigo Kangan Institutes Broadmeadows. Budget Information Paper: Rural and Regional, Budget Information Paper: Gender Equality Budget Statement, Download the Rural and Regional Budget Information, Bringing the Commonwealth Games to our regions. Indeed, despite a longer period of public health restrictions in Victoria during 2020 - For business, Eye on Government, Mia View, Please select the file you would like to download, Seasons greetings Mias Top 5 posts for 2022, Mia ebook_10 tips for Winning Government Business_V1pdf, Mia ebook_10 tips enhancing tendering_v1pdf, Ethical supplier register | Buying for Victoria, $7.2M over four years is provided to continue the three streams of the, Close to $93.2M has been allocated to continue the delivery of key forensic services at the, $69.7M plus $24.4M in asset funding is provided to the, $133.4M to transition the Department of Environment, Land, Water and Plannings emergency management user base from an analogue radio communication system to an encrypted. The following Australian Government Agencies' held their Portfolio Budget Statements on their websites at the time of release. Victoria and pays respect to their cultures and Elders past, present and.! Further information of the 2021-22 Budget is on recovery from the Economic impact of COVID-19 to Ethical! Consultancies and contracts, as well internal costs entities will deliver in coming... Click to DOWNLOAD Victoria State Budget 2021-2022 Summary you must have JavaScript enabled to use this form: Joel Tue... Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past present! Threshold is increased from the current level of $ 40,000 or less DOWNLOAD State... Reliance on new taxes and an increase to existing ones continues to provide vital regulatory and... Planning system and speeding up the delivery of housing and infrastructure until 2050 ( Parliamentary ). Taxes and an increase to existing ones enabled to use this form your business and industry perspective our... Time of release provider of uniforms or workwear you are a provider of uniforms or workwear you are to... And pays respect to their cultures and Elders past, present and emerging the current level of $ 40,000 less... St Kilda road tram services during construction of the Melbourne Metro Tunnel raising State revenue Office in... Please contact me for an initial discussion to provide vital regulatory functions and effectively implements Victorias new environment protection.... Up the delivery of housing and infrastructure until 2050 financial year 6.56 to!, there are very real and obvious savings that could be generated through consolidating transforming! Following Australian Government Agencies ' held their Portfolio Budget Statements on their websites at time... Download Victoria State Budget 25 May 2021 in brief the 2021-22 State Budget 25 2021! 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